Naspers was buoyed by improved performance in e-commerce and contributions from China's Tencent.
Monday its full-year earnings more than doubled, buoyed by improved performance of its e-commerce businesses and contribution from China’s Tencent, which accounts for the bulk of earnings and revenues.
The technology investor said its core headline earnings per share, a key indicator of operating performance, from continuing operations rose to US$11.48 for the year ended 31 March, from a restated $5.46 a year ago. , with global investments housed in Amsterdam-listed Prosus, said its consolidated e-commerce business has achieved profitability in the second half of the year, ahead of its expectation for first half of 2025.The firm posted an annual consolidated e-commerce trading profit of $24-million, compared with a loss of $435-million.
Consolidated revenue from continuing operations grew 8% to $6.4-billion, with Classifieds and Food Delivery businesses being the biggest contributors, it said.It has investments in food delivery companies iFood of Brazil, Delivery Hero and India’s Swiggy, educational software firms such as SkillSoft and Stack Overflow, and payments companies such as India-focused PayU.Prosus also holds a stake in Chinese software and gaming giant Tencent, which it sold down to 25% from 26.
Naspers and Prosus say the buybacks benefit shareholders because Prosus is worth 30% less than the value of the Tencent stake, or $98-billion at current prices. —
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Naspers expects higher headline profit thanks to e-commerce boost, TencentNaspers expects higher headline profit thanks to e-commerce boost, Tencent
Read more »
Naspers sees e-commerce boom, rapid AI deploymentThe South African internet giant posts accelerated top-line growth of 18%, with e-commerce consolidated revenue of $6.3 billion.
Read more »
Naspers pleased with ecommerce profit as iFood and classifieds surgeNaspers pleased with ecommerce profit as iFood and classifieds surge
Read more »
Naspers, Prosus, show little reaction to trading updateNaspers, Prosus, show little reaction to trading update
Read more »
Takealot reports R252-million lossWhile Mr D turned a profit for the first time, Naspers said Takealot managed to reduce its trading losses despite a challenging economic environment.
Read more »
Mr D Food is profitable for the first timeParent Takealot Group is tracking in line with Naspers’s global e-commerce portfolio despite a tough macro climate.
Read more »